Carl Zeiss Meditec Posts Double-Digit Growth for FY 2011/2012
|December 7, 2012 12:20 AM
Carl Zeiss Meditec (CZMWF.PK) posted double-digit growth rates in revenue and operating results for the fiscal year ending Sept. 30, 2012. The medical technology company reported that it slightly exceeded its revenue forecast for financial year 2011/2012, of €830 million to €860 million, with revenue growth of 13.6 percent to €861.9 million versus the previous year revenue of €758.8 million.
In addition to increasing its earnings before interest and tax (EBIT) by 18.7 percent to €122.9 million compared with €103.6 million the previous year, Carl Zeiss Meditec further increased its profitability, with 14.3 rise in EBIT margin compared with 13.6 percent the previous year. Cash flow from operating activities rose to EUR 92.1 million versus the previous year’s €33.2 million.
“We are very pleased with the development of revenue and earnings. In spite of sometimes challenging conditions in the global economy, we achieved growth in all strategic business units (SBUs) and regions," remarked Dr. Ludwin Monz, president and CEO of Carl Zeiss Meditec AG. "By investing in new products and sales channels we are also simultaneously laying the foundations to make our growth sustainably positive. Carl Zeiss Meditec is well on its way to achieving its EBIT margin target of 15 percent by 2015.”
As in the past few quarters, development in Carl Zeiss Meditec’s Microsurgery SBU was positive across all product groups, with total growth of 17.8 percent in the financial year. There was particularly strong demand for surgical microscopes from the field of neuro/ENT surgery, according to Carl Zeiss Meditec. The growth of 17.5 percent in the SBU Surgical Ophthalmology was particularly attributable, once again, to the high demand for intraocular lenses for minimally invasive cataract surgery and the integration of a distribution acquisition in Spain, the company said. The growth in its SBU Ophthalmic Systems was driven in particular by a growing demand for innovative lasers for the refractive correction of vision defects. This SBU's revenue grew by 8.7 percent compared with the previous year, Carl Zeiss Meditec reported.
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